logo
Plus   Neg
Share
Email

Medidata To Acquire SHYFT Analytics For $195 Mln - Quick Facts

Medidata (MDSO) announced a definitive agreement to acquire SHYFT Analytics for a total consideration of $195 million, subject to customary closing adjustments, inclusive of Medidata's 6% ownership in SHYFT's business, and funded with existing cash on Medidata's balance sheet. The acquisition is expected to close in the second quarter of 2018.

SHYFT Analytics is the leading cloud data analytics platform for life sciences with solutions designed exclusively for the pharmaceutical and biotech industry. SHYFT is headquartered in Boston with offices in San Francisco and New York City.

Medidata said the company will provide updated 2018 guidance to incorporate deal-related costs, assumption of ongoing operating expenses of SHYFT, and write-down of acquired deferred revenue as a result of purchase accounting.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Twitter Inc. on Friday unlocked the New York Post's Twitter account after a two-week stalemate over posting links to its reporting about Hunter Biden. Walmart has removed guns and ammunition from its store shelves in the U.S. as a precautionary measure following the unrest in Philadelphia after a Black man was fatally shot by police, according to reports. While the firearms will be available for purchase at the Walmart stores, customers will be required to specifically request for them. Regeneron Pharmaceuticals Inc. (REGN) said Friday that the independent data monitoring committee or IDMC for the REGN-COV2 antibody cocktail treatment trials for COVID-19 has recommended to hold further enrollment in hospitalized patients requiring high-flow oxygen or mechanical ventilation.
Follow RTT